“We see blockchain as having an incredible impact on supply chain process and logistics information as it is shared across a distributed network of participants,” explains Mike Flinker, President of FLS. “As intermediaries, 3PLs have traditionally been the integrator and aggregator of the shipper, receiver, and carrier; along with the data that is exchanged between them. Since we have already established relationships with a large number of those who will participate, we feel there is enormous opportunity for us to increase the long-term value to our clients in the education, innovation, and execution of blockchain technologies.”

At a high level, blockchain is a digital ledger technology capable of recording transactions and storing their data in immutable blocks across a distributed network. Blockchain enables a digital supply chain and creates a peer-to-peer system of commerce. Participants in logistics and supply chain are considered ideal candidates for the introduction of blockchain. While more than a few years away from becoming a mainstream technology, Gartner quantifies the business value-add of blockchain at $176 billion by 2025, and then exceeding $3.1 trillion by 2030.

Visibility, traceability, transparency, and security are the hallmarks of a successful supply chain strategy. In joining BITA, FLS will be collaborating with a number of North America's leading logistics service and technology providers who are committed to real world execution of blockchain solutions in logistics and supply chain.

FLS has been providing leading edge logistics solutions across North America for more than 30 years.

BiTA was formed by experienced tech and transportation executives to create a forum for the development of blockchain standards and education for the freight industry with the goal of bringing together leading companies in the freight technology industries that have a vested interest in the development of blockchain technology.

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FreightWaves provides data and commentary on the global freight market. At the core of each article or content piece is a focus on the economic impacts and outcomes - good or bad - that are driven by emerging technology, innovation and freight industry evolution.

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